Shoe Carnival steps up revenue growth in Q4

EVANSVILLE, Ind. — Quarterly net earnings at Shoe Carnival fell to $3.2 million, compared with $3.3 million in the year-ago period.

Revenue rose 13.1% to $205.7 million from $181.9 million, and same-store sales edged up 0.5%.

For the full year, profit rose to $29.3 million from $26.4 million, sales increased 12.1% to $855 million, and same-store sales advanced 4.5%.

In fiscal 2013, the company said it expects to open 30 to 35 new stores, relocate seven stores and close five to seven stores.

“We were pleased with our ability to end 2012 having achieved record sales and earnings. This came during a period of accelerated growth and, as we previously announced, a fourth quarter where performance was below our expectations,” said Cliff Sifford, Shoe Carnival’s president and CEO. “In 2013 we will focus on key initiatives to drive our growth long-term, which include enhancing our branded offerings in our women’s dress and casual, adding 30 to 35 stores primarily in existing markets, leveraging our advertising in markets that are under penetrated with a re-energized marketing campaign and reinvesting in our existing store base with approximately 30 to 35 remodels and seven relocations.”